Stock Selloff Heats Up Again – Live Analysis

January 20, 2016 6:58 PM

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The selloff this morning, that has already taken the S&P 500 below its August lows, that key line in the sand, is also shattering another pattern on the charts, according to Instinet’s Frank Cappelleri.

“It appears the SPX will open markedly below the August ’15 and October ’14 closing lows,” he wrote. “And this means the index will also shatter the [head and shoulders] neckline that we (and many technicians) have been eyeing. A measured move yields a target near 1600. That level would put it 25% b...